Production Linked Incentive Scheme

Thе (PLI) Production Linkеd Incеntivе Schеmе introducеd by thе Indian government has garnеrеd attеntion as a pivotal tool to bolstеr thе country’s manufacturing sеctor. Initially craftеd to stimulatе thе production еcosystеm and еncouragе indigеnous manufacturing, thе PLI Schеmе has marked a significant paradigm shift in India’s еconomic landscapе.

Overview Of (PLI) Production Linkеd Incеntivе Schеmе

The Medical device sector in India suffers from huge costs, on account of inadequate infrastructure, domestic supply chain and logistics, and high cost of finance. Thus, manufacturers need a huge amount of Investment to run their business. For Compensation to manufacturers of Medical Devices, the Government of India has come up with a scheme called the Production linked Scheme. This scheme aims to promote domestic manufacturers of Medical Devices.

The Scheme provides financial Incentives to boost domestic manufacturing and to attract large investments in the Medical Device Sector.

Production Linked Incentive Scheme

What Are The Objectives Of The PLI Scheme?

This Scheme intends to boost domestic manufacturing and it also attracts huge investment.

What Is The Applicability Of This Scheme?

This scheme applies only to Greenfield Projects. Goods manufactured in India and covered under the Target Segments.

The Target Segment Of Medical Devices Under the Production Linked Scheme Are As:

  • Cancer care / Radiotherapy
  • Radiology, Imaging and Nuclear Imaging Devices
  • Anesthetics, Cardio-Respiratory and Renal Care
  • Anesthetics, Cardio-Respiratory and Renal Care

What Is The Eligibility For Incentive?

Only to companies engaged in the manufacturing of goods covered under target segments in India. It is subject to:

  • Thresholds of investment and
  • Incremental sales of manufactured goods over.
  • An Applicant meets all the threshold conditions eligible for disbursement of incentive.

Who Can Apply For PLI?

Applicants for this Scheme are any Company registered in India, proposing to manufacture goods under the target segment and making an application for seeking approval under the Scheme. The applicant shall make a threshold investment in any Greenfield Project. The aforesaid manufacturing will be carried out at one or more locations in India.

Eligibility Criteria

How Is The Selection Done For PLI?

  • Based on the score obtained in the evaluation criteria as per the government guidelines.
  • In case two applicants have the same score, the selection is made based on the score against the parameter prescribed as per government guidelines.
  • A maximum of 28 applicants were selected under the scheme.
  • A maximum of 10 applicants were selected under each target segment.

How Do The Application Filed For PLI?

Applications are submitted through an online portal. The Project Management Agency issues a unique number. Application ID to the applicant for all future references about the Scheme.

Project Management Agency

The Financial institution(s) or any other authority appointed to act on its behalf for receipt and appraisal of applications, verification of eligibility and examination of disbursement claims through any method/document deemed appropriate and for managing the above-mentioned by these guidelines.

What Are The Documents Required For PLI Scheme?

  • Copy of Incorporation Certificate.
  • Copy of Audited Balance sheet and Profit and Loss Statement of Last 2 years.
  • Copy of PAN Card.
  • Copy of GST Details.
  • Copy of Article of Association.
  • Copy of Memorandum of Association.
  • Letter authorising the signing authority.
  • Copy of Shareholder Ownership in case of foreign Companies.

We Help
ELT Corporate And Medical Device Registration

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